Posting on Facebook, right now, is like updating your resume (like LinkedIn) for personal life. It just feels too "public". Sure, you can tweak your social network into different privacy levels. But, that just doesn't feel intuitive or effortless.
The exclusivity factor which initially propelled the network is simply not there. At the peak of the facebook madness, you had a need to post whenever anything happened. Now, its just the big ticket items.
I think people login more due to habit than to post personal updates. I doubt the current college going kids even login at all. Today, you update facebook only on special occasions like marriage, birth of a child, graduation or when people go out to visit places etc. Previously, like 7 to 8 years back, people used to post very personal things, knowing that only their friends are on the network. It definitely, felt safe. It Again, maybe my gen aged a bit during the last 8 years, I don't know.
If anyone posts anything too personal right now, it feels like a violation of social norms. Like crying in public with everyone watching.
No matter how many tweaks Facebook makes to their Newsfeed, I doubt quality engagement from what I saw 7 to 8 years back will return.
People just shifted to mobile apps like Whatsapp and have different social groups there. This feels very natural and organic. You have a few small groups of maybe 10 to 15 people max per group who all know you intimately and maybe a couple of larger groups with 50 plus members. This usually an alumni group of some kind.
Even the larger groups get tiring if there are too updates and many frequently opt out after a tiff.
I just feel the era of publicly sharing personal information on web based social networks is over. If there is somekind of a decentralized privacy oriented mobile app that has the same functionality as whatsapp and it gets widely adopted, then it might be game over for the big companies in the social networking space.
Even though Whatsapp is owned by facebook. It feels very safe and personal to share updates.